Prana Capital Management LP Grows Stake in Chubb Limited $CB

Prana Capital Management LP raised its holdings in shares of Chubb Limited (NYSE:CB) by 171.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 510,010 shares of the financial services provider’s stock after purchasing an additional 322,448 shares during the period. Chubb makes up about 4.8% of Prana Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Prana Capital Management LP owned 0.13% of Chubb worth $143,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Chubb by 0.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock valued at $2,083,000 after buying an additional 35 shares during the last quarter. Golden State Wealth Management LLC raised its position in Chubb by 7.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock worth $148,000 after buying an additional 36 shares during the last quarter. Covestor Ltd lifted its stake in Chubb by 26.1% during the 3rd quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 37 shares during the period. CENTRAL TRUST Co lifted its stake in Chubb by 1.0% during the 3rd quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock valued at $1,008,000 after acquiring an additional 37 shares during the period. Finally, JT Stratford LLC boosted its holdings in shares of Chubb by 3.5% during the 2nd quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $330.97 on Wednesday. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The firm has a market capitalization of $129.13 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $320.28 and a 200 day moving average of $300.56.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter last year, the company posted $6.02 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is 15.08%.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The SEC filing for this sale provides additional information. 0.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CB. Morgan Stanley set a $350.00 price objective on shares of Chubb in a report on Friday, January 16th. Wells Fargo & Company lifted their target price on shares of Chubb from $305.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Jefferies Financial Group boosted their target price on shares of Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft increased their price target on Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a report on Monday, November 24th. Finally, Cantor Fitzgerald lifted their price objective on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $340.81.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.